Boyd Group Services (TSE:BYD) Stock Price Up 5.3% – Here’s Why

Boyd Group Services Inc. (TSE:BYD) shares shot up 5.3% on Monday. The stock traded as high as C$126.77 and last traded at C$123.52. 151,464 shares changed hands during trading, an increase of 49% from the average session volume of 101,968 shares. The stock had previously closed at C$117.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BYD shares. BMO Capital Markets lowered their price objective on shares of Boyd Group Services from C$200.00 to C$190.00 in a report on Thursday, August 13th. Jefferies Financial Group reduced their target price on shares of Boyd Group Services from C$250.00 to C$225.00 in a report on Thursday, August 13th. Mizuho set a C$120.00 target price on shares of Boyd Group Services and gave the company an “outperform” rating in a research report on Friday, September 18th. ATB Cormark Capital Markets boosted their price target on shares of Boyd Group Services from C$245.00 to C$250.00 and gave the stock an “outperform” rating in a research report on Thursday, August 13th. Finally, Scotiabank cut their price target on shares of Boyd Group Services from C$219.00 to C$210.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of C$219.50.

Boyd Group Services Stock Up 5.3%

The company has a debt-to-equity ratio of 117.12, a current ratio of 0.58 and a quick ratio of 0.30. The firm’s 50 day moving average is C$115.68 and its two-hundred day moving average is C$158.80. The firm has a market capitalization of C$3.44 billion, a P/E ratio of 274.49, a PEG ratio of -56.72 and a beta of 1.10.

Boyd Group Services (TSE:BYD) last issued its earnings results on Wednesday, August 12th. The company reported C$1.14 earnings per share for the quarter. The business had revenue of C$1.44 billion for the quarter. Boyd Group Services had a net margin of 0.26% and a return on equity of 0.61%. Research analysts predict that Boyd Group Services Inc. will post 7.15 EPS for the current year.

Insider Buying and Selling at Boyd Group Services

In other news, insider Jeff Murray acquired 350 shares of the stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of C$111.17 per share, for a total transaction of C$38,909.50. Following the purchase, the insider directly owned 7,700 shares of the company’s stock, valued at approximately C$856,009. This trade represents a 4.76% increase in their ownership of the stock. 0.37% of the stock is owned by corporate insiders.

About Boyd Group Services

Boyd Group Services Inc is a Canadian corporation and controls The Boyd Group Inc and its subsidiaries. Boyd Group Services Inc shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc or Boyd Group Services Inc, please visit our website at https://www.boydgroup.com .